The euro has certainly delivered price stability - with low inflation in much of the 11-country eurozone.
Global monetary authorities are now following the U.S. Federal Reserve's lead in chasing price stability.
There is thus a risk that price stability may make relative wages even more rigid.
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Ah, comes the reply, we need to maintain price stability in order to support the mystique.
If the ECB is to fulfil its mandate of price stability, it must prevent prices falling.
Instead of seeking to control inflation indirectly, central banks aim expressly at price stability.
Price stability is one goal of macroeconomic management, but only one goal: there are others.
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Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
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But since 1986 Argentina has suffered first hyperinflation, then price stability and a trade opening.
One is to the bank's statutory independence in pursuit of its treaty-prescribed goal of price stability.
It has made price stability the test of this, and it has yet failed to deliver.
We will boost domestic demand and maintain steady and robust growth as well as basic price stability.
In that case, rather than price stability, the sole goal of monetary policy should be dollar-price stability.
Tightening labor markets, and rising global energy and food prices, pose a risk to consumer price stability.
ECB, whose sole goal is domestic price stability, while fiscal policy remains almost wholly a national concern.
In advanced economies, monetary policies have played an integral role in supporting the recovery while maintaining price stability.
The FOMC is committed to achieving medium-term price stability and will act as necessary to attain that objective.
Unlike the Bank of England, for example, the ECB gets to write its own definition of price stability.
Once primary dealers start lending their new money, generalized inflation will be a real danger, threatening price stability.
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To command the Federal Reserve to pursue price stability alone is to create the preconditions for macroeconomic disaster.
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However, that objective (price stability) is more credibly attainable under a convertible currency than a pure fiat money.
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Again unlike its American and British counterparts, its statutory obligations relate only to the maintenance of price stability.
As such, markets would be left to allocate credit more efficiently, and price stability would foster financial stability.
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The ECB, he said, would "continue to monitor closely" all developments to ensure price stability over the medium term.
It is debatable whether what Japan has been experiencing is deflation, or what used to be called price stability.
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"The exchange rate is not a policy target, but it is important for growth and price stability, " he said.
ECB, which has a treaty obligation only to pursue price stability, take much notice of the euro's exchange rate?
And since it is hard to cut nominal wage rates, price stability could put a floor beneath real wages.
Some Americans favour a return to a gold standard to ensure price stability.
The risk is that their desired exchange-rate strategy could conflict with price stability.
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